Loan Requirements and Evaluation Process
We require our small business to have stable and predictable cash flow. We also evaluate and verify the history of payments to suppliers and others during our credit evaluation process. The business must be at least 6 months to a year in business before we consider their application. Outstanding loans with other institutions will also be taken into consideration. The ability of the party behind the transaction to the service the loan is the main thing we are seeking to evaluate in the process. We aim to turnaround an application in 5 business days.
For Business Loans:
– Complete Loan Application Form and Authority to Verify
– Original 3 months latest bank statements
– Photocopy of 2 valid government-issued IDs (Applicant and Co-maker, if required)
– 2×2 Photos of Applicant and Co-maker, if required
– Photos of business and/or Inventory
– Latest copy of Mayor’s Permit
– Latest Proof of Billing for your business (e.g. electricity, water, cable)
– Latest Proof of Billing for your residence (e.g. electricity, water, cable)
– Hand-drawn sketch of business and residence location
For Corporations:
– SEC Registration and Bylaws
– Secretary Certificate with board resolution
– Latest income tax return with financial statements (Optional)
For Sole Proprietorship:
– DTI Permit
For Self-employed/Professional Service:
– PRC License
– Professional Tax Receipt PTR
– Certificate of Business Name
For Rediscounting
– Complete Application Form
– Photocopy of 2 valid government IDs
– Photocopy of Checks
– DTI/SEC Registration (as applicable)
– Mayor’s Permit
– Sales invoice
– Purchase order
– Contract, etc.